Sold 3 Bed Flat - Purpose Built 

Orbit Shared Housing

Shared Ownership

How does it work?

If outright purchase is not an option for you, this scheme offers an alternative to renting. You can buy an initial share in a new home that you can afford, helping you into home ownership in manageable stages.

This scheme has previously been known as “Part Buy, Part Rent”, and both new-build and re-sale (older) properties are available.

The Housing Association or Registered Provider will offer initial shares of between 25% - 75% of the full purchase price. You pay a subsidised rent on the remaining share that the Housing Association or Registered Provider still own. The combined monthly cost of mortgage and rent will normally be less than if you were purchasing the property outright.

In the future you can simply sell your share for its value at the time or alternatively you can purchase further shares in your home.

With most properties you are eventually able to own the property outright if you wish to, although there are some restrictions on rural schemes.

Am I eligible?

Your annual household income can be no more than £80,000.
You should be unable to purchase a home suitable for your needs without assistance.
You cannot be a current home owner (or be named on the deeds of another property).
You must not have any outstanding credit issues (i.e. unsatisfied defaults or county court judgments).

Communal Entrance Foyer

With lift and stairs to the top floor.

Private Entrance Hall

Double radiator, large built-in cupboard housing the gas central heating and domestic hot water boiler system. Additional large cloaks cupboard with entryphone system.

Living Room

5.99m x 4.57m (19'8 x 15' )
Window to side elevation with far reaching views, double radiator, feature fireplace with electric Real Flame fire and open plan to the kitchen.

Kitchen

4.09m x 2.57m (13'5 x 8'5 )
Fitted kitchen comprising a range of base and wall units with laminate straight edge worktops, ceramic hob with extractor canopy and light, brush stainless steel splashback, integrated oven and grill, plumbing for washing machine and dishwasher, one and a half bowl single drainer sink unit with mixer tap, double radiator, tiled splashbacks, built-in fridge and freezer.

Bedroom One

4.72m x 4.70m (15'6 x 15'5 )
Two double radiators, window to the front elevation, fitted wardrobe cupboard.

En-Suite

Walk-in shower with chrome controls, chrome shower head, w.c. with low level flush, pedestal wash hand basin, tiled splashback, double radiator, tiled floors.

Bedroom Two

4.88m x 3.48m (16' x 11'5 )
Double radiator, window to the front elevation, built-in wardrobe cupboard.

Bedroom Three

4.72m x 2.24m (15'6 x 7'4 )
Window to front elevation, double radiator.

Bathroom

Suite comprising panelled bath with hand shower attachment and fixing, glass screen, w.c. with low level flush, pedestal wash hand basin, tiled splashback, double radiator, tiled floor, electric shower point with light.

Outside

Underground Parking Space

Accessed via electric operated gates.

Maintenance

50/50 Shared Ownership- We have been advised by the vendors that this is monthly combined charge of approx. £385.81 and a rental charge to Orbit is £263.73 per month and the general service charge of £132.08 per month.

Agents Note

We have been advised by the vendor that this flat comes with Share of Freehold, a new 999 year Lease will be issued prior to completion. The maintenance costs are a 50/50 split.